2nd Jul 2018 11:33
LONDON (Alliance News) - FTSE 100-listed oil and gas company BP PLC said on Monday it has started operations at the Shah Deniz 2 gas development located offshore Azerbaijan, including its first commercial gas delivery to Turkey.
Shah Deniz is held by a consortium, in which BP is the operator with the biggest interest at 29%.
The project is the first subsea development in the Caspian Sea, and at plateau is expected to produce 16 billion cubic metres of gas per year, with 26 subsea wells and 500 kilometres of subsea pipelines and flowlines.
"Shah Deniz 2 is one of the biggest and most complex new energy projects anywhere in the world, comprising major offshore, onshore and pipeline developments. BP and our partners have safely and successfully delivered this multi-dimensional project as designed, on time and on budget," said Chief Executive Bob Dudley.
"Together with the Southern Gas Corridor pipeline system, Shah Deniz 2 will deliver significant new energy supplies to Europe, further diversifying its sources of energy and providing new supplies of natural gas which will be essential in the energy transition," Dudley added.
Shares in BP were down 0.8% at 573.60 pence on Monday.
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